BEIJING (XINHUA) – Non-cash payments handled by Chinese banks continued sound growth in the second quarter of 2023, data from the central bank showed.
Non-cash payments via bank cards, electronic payment vehicles, commercial papers, credit transfers and other settlements hit CNY1308.83 trillion (about USD182.32 trillion) during the period, up 12.28 per cent year on year, according to a report from the People’s Bank of China.
Electronic payments took the lion’s share of non-cash payments, with a total transaction value of CNY842.19 trillion, said the report.
A closer look at data for electronic payment vehicles showed that mobile payments expanded 14.29 per cent compared with the same period last year to CNY138.96 trillion.
Bank card transactions also went up in the second quarter, increasing by 11.35 per cent year on year to CNY271.76 trillion, the data revealed.
